Global Textile Fibers Market to Reach 93 Million Tons and Spun Yarn Market to Reach 47.3 Million Tons by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Textile materials markets. The global market for textile fibers is forecast to reach 93 million tons, while spun yarn market is projected to reach 47.3 million tons by the year 2015. Key factors driving market growth include increasing global textile trade following the expiry of restrictive agreements, continuing shift in production to low cost countries, restoration of consumer confidence, recovery in demand for textiles, and rising market potential in developing regions. Growth in the following years would, in part, be driven by increasing consumption of manmade textile materials in the production of household textiles due to inherent performance as well as environmental advantages.

Textile Materials: A Global Strategic Business Report

San Jose, CA (Vocus/PRWEB)February 17, 2011

The consumption of fibers in the manufacture of household textiles and furnishings has been increasing over the years. Traditionally, this sector has primarily relied upon natural fibers, which are often derived from waste. However, consumption of synthetic fibers in the production of household textiles and furnishings has increased rapidly in the recent past, owing to their inherent performance, environmental and health advantages. The demand for synthetic fibers is expected to grow in the coming years primarily due to the ongoing trend away from natural fibers towards synthetic fibers, and by expanding markets in developing economies. Globally, production of textile fibers, including manmade and natural fibers, grew significantly for most of the year 2008. Demand growth for textile materials, meanwhile, was tempered by rising fuel and raw material prices that was reflected in the prices of fibers. Expected recovery in the fourth quarter did not come by, owing to the economic downturn in 2008. Demand for textile products worldwide was softened substantially by October, and posted significant declines by the end of the year. The situation persisted through the initial months of 2009, as the economic woes deepened. However, the market witnessed significant recovery in the later months of 2009, ending the year on a positive note.

Asia-Pacific represents the largest regional market for textile materials globally, as stated by the new market research report on Textile Materials. Europe trails behind the Asia-Pacific market, however, growth in the market would continue to be led by Asia-Pacific, which is projected to be the fastest growing regional market for textile fibers as well as Spun Yarn during the analysis period. Segment-wise, Synthetic Fibers represent the largest segment of the textile fibers market, while Natural Yarns dominates the global spun yarn market. However, growth in the spun yarn market would be spearheaded by Synthetic Yarns segment.

Production-wise, Global production of fibers, both manmade and natural fibers, surged in 2009 following a decline in 2008. During the present decade (2000-2010), production of manmade fibers as well as key natural fibers increased substantially. Despite the growth, the recent global economic downturn has adversely affected the global fibers industry. With consumer confidence plummeting, following the onset of recession, global demand for apparel as well as textiles declined, affected the demand for fibers used in their production. Natural fibers have been losing share to manmade fibers over the past two decades. Presently, natural fibers, including cotton, wool, silk and other natural fibers, account for a share of close to 37% of the overall fiber supply, as against a share of about 41% in 2000, and about 60% in 1990. Over the years, manmade fibers drove the global market for fibers, while natural fibers posted relatively lower growth. Within the natural fibers, cotton emerged as the key growth driver, supported by approval for the cultivation of genetically modified crops, while wool continued to post declines.

China is the world’s largest producer as well as consumer of filament/fibers utilized in textiles. The country is also the leading exporter of viscose filament yarn, polyester filament yarn as well as polyester staple fiber and viscose staple fiber. China is also the largest nylon exporter, and ranks tenth in exports of acrylic fibers. With regards to imports, China is the largest importer of nylon, acrylic staple fiber, and cotton. The country ranks third in imports of polyester filament yarn as well as polyester staple fiber. Additionally, China is the world’s second and third largest importer of viscose staple and viscose filament, respectively.

The global economic recession compelled several textile fiber manufacturers globally to rationalize their production capacities. While some players restructured their production capacities, other players resorted to plant closures in a bid to remain solvent. The US and Western Europe have seen restructuring their fiber industries in the recent years. Consolidation of facilities, and closure of less profitable units has been observed in Western European countries. Meanwhile, certain players exited production of fiber in Europe and either established or partnered for building new production plants in low-cost regions, such as Asia, The Middle East, and Eastern Europe.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.